The Nigerian Meteorological Agency and the Central Bank of Nigeria have signed a landmark Memorandum of Understanding (MoU) aimed at improving economic planning and policy formulation through the exchange of climate and weather data.

The agreement was signed on Wednesday in Abuja by the Director General and Chief Executive Officer of NiMet, Charles Anosike, and the Deputy Governor of the Economic Policy Directorate at the CBN, Muhammad Sani Abdullahi.

Speaking during the signing ceremony, Anosike stressed the growing importance of weather and climate information in shaping economic decisions, particularly in critical sectors such as agriculture, transportation and energy.

He noted that extreme weather conditions continue to threaten agricultural productivity and food security across different regions of the world.

Referencing a 2026 World Bank report, Anosike said climate change-driven weather extremes have worsened food insecurity globally, with over 87 million people affected in East and Southern Africa and 52 million in West and Central Africa.

He explained that the partnership supports the Renewed Hope Agenda of President Bola Ahmed Tinubu, especially the administration’s focus on food security through large-scale agricultural investments, including the cultivation of 10 million hectares of land and the distribution of mechanised farming equipment.

Anosike also cited the 2026 Berkeley Earth Report, which projected that 2026 could become the fourth warmest year ever recorded, warning that rising temperatures are already influencing agricultural output and energy market projections.

In his remarks, Abdullahi described the agreement as a major step toward strengthening collaboration between two key national institutions responsible for research, data and policy support.

According to him, reliable and timely data remain essential for effective economic planning in an increasingly complex environment.

He added that the CBN’s Economic Policy Directorate depends heavily on credible statistical information from NiMet for inflation tracking, agricultural sector analysis and broader economic policy advisory functions.

Abdullahi further stated that stronger institutional partnerships would enhance evidence-based policymaking and improve the nation’s data systems.

The event concluded with the official signing of the MoU by both institutions.